Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News

2023-01-13 16:25:10 Crypto.com Has Lost About 55.66% USDT In 7 Days Before Delisting In Canada

Data shows that Crypto.com has lost $80 million in the past seven days. The exchange held about 52 million USDT before having to delist in Canada. Today, Crypto.com had to delist from Canada due to compliance with the laws of this country. Web3 knowledge mapping protocol 0xscope tweeted on its account that data shows crypto exchange Crypto.com currently holds the most significant amount of USDC, around 777 million USDC. Meanwhile, the amount of USDT holding is only about 52 million tokens. That number has dropped by about $80 million in the past seven days. Cryptocurrency exchange Crypto.com plans to delist Tether (USDT) from Canadian users starting January 31, 2023.

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2023-01-13 10:25:07 Binance Receives Failure To Maintain “Flawless” Its Stablecoin’s Reserves In The Past

According to Bloomberg, crypto exchange Binance acknowledged systemic issues that left its supply of Binance Smart Chain BUSD undercollateralized by at least one billion. However, the pegging process has since been improved, the spokesperson added. The Binance-pegged BUSD token is intended to have a fixed $1 value supported by reserves of BUSD, a different stablecoin with the exchange name but issued and managed by a different business, Paxos Trust. The amount of BUSD locked as collateral to maintain its own coin, referred to as the “peg” by Binance, had previously frayed but is now unbroken.The process of maintaining the peg, according to a spokesman for Binance, includes numerous teams and hasn’t always been perfect.

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2023-01-13 04:25:04 El Salvador Approved Digital Asset Issuance Law, New Step For Bitcoin Bonds

Recently, El Salvador approved a digital asset issuance law, paving the way for Bitcoin bonds advocated by President Nayib Bukele. The new law provides legal certainty for transferring any digital asset offered for sale in the country. According to the ruling party, the new law provides certainty in transferring digital asset offerings to the public in El Salvador. It is reported that El Salvador has been preparing for Bitcoin bonds since at least the beginning of 2022. The law will open favorable conditions for Bitcoin bonds, such as the “Volcán” bond that President Bukele introduced since the law’s inception. Bitcoin is a legal tender in El Savior. however, the regulations facilitated money laundering and tax evasion.

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2023-01-12 20:52:01 Robinhood Stopped Supporting Bitcoin SV, Token Price Dropped Big

On January 25, Robinhood, the app for online trading, announced that it would stop providing support for BSV, the native cryptocurrency of the Bitcoin SV network. After the cutoff, any BSV in a Robinhood cryptocurrency account will be sold at market price. According to a statement on Robinhood’s website and an email sent to consumers on Wednesday, users can purchase, sell, send, and hold BSV until the deadline. After the cutoff, any BSV in a Robinhood crypto account would be sold for market value, the company stated. The holdings of any other crypto users on Robinhood won’t be impacted. Users can still exchange all of the other coins that are available, depending on the state in which they reside.

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2023-01-12 16:25:00 Huobi’s Market Share Is Declining Due To The USD Depeg

Huobi Global, a cryptocurrency exchange with its headquarters in Seychelles, has been having issues for a while, which has resulted in it losing a sizable portion of the market. Tron DAO Reserve, intends to control the value of stablecoins that are printed on the TRX blockchain. The business has drawn criticism for, among other things, purportedly closing off internal communication and feedback channels and withdrawing several employee benefits. Competing businesses are also a threat to its market share. Huobi was the most significant loser of the crypto bear market, according to the most recent report by data source Kaiko, as its market share dropped from 22% in 2020 to a meager 4% by 2022’s end.

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2023-01-12 10:25:00 Former Coinbase Manager Gets 10-Month Prison Term

Nikhil Wahi, the brother of Ishan Wahi, a former product manager at Coinbase, entered a guilty plea and was sentenced to 10 months in prison for using his family ties to engage in insider trading of cryptocurrency tokens.a lawsuit alleging insider trading involving digital assets was brought up against Nathaniel Chastain. U.S. Attorney Damian Williams noted that this was the first occasion “a defendant has admitted guilt in an insider trading case involving the cryptocurrency markets” after the defendant’s guilty plea in September. Ishan Wahi, in contrast, entered a not-guilty plea in August. Prosecutors, on the other hand, wanted to see him serve up to 16 months in jail. Nikhil will be sent back to India after serving his punishment.

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2023-01-09 04:02:59 ETC Surges 14% to Hit 6-Week High on Saturday

Ethereum classic was one of the biggest movers to start the weekend, as prices surged to a six-week high. The move saw the token climb by as much as 12%, breaking out of a key resistance level in the process. Polygon also moved higher, as it raced towards a recent price ceiling. Ethereum classic (ETC) rose to a six-week high on Saturday, as prices rallied by as much as 14%. Following a low of $17.94 on Friday, ETC/USD raced to a peak of $20.68 earlier in today’s session. Recent rallies have also pushed the 14-day relative strength index (RSI) close to overbought territory, with the indicator tracking at its highest point since last August. Earlier gains have already begun to fade, with previous bulls likely moving to take profit at the level.

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2023-01-08 20:31:54 Singapore Crypto Group Speaks Out Against MAS Token Lending Ban

The principal cryptocurrency lobbying association in Singapore has been critical of the central bank’s crypto proposals, calling them “overly restrictive.”.They would also prohibit firms from lending or staking their coins to generate yields. The Monetary Authority of Singapore recently proposed a range of measures restricting retail customer access to cryptocurrencies. These measures would prevent investors from borrowing to fund their token purchases. They warned that such measures would merely force those interested to to seek out unregulated offshore alternatives.Blockchain Association of Singapore issued an 11-page feedback, speaking out against such a blanket ban.

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2023-01-08 16:24:59 Bitcoin Whale That Dormant For Almost 4 Years Suddenly Moves $250 Million

An old Bitcoin wallet that had been inactive for over four years abruptly transferred approximately $250 million to another unknown Bitcoin address. The address that received the payments currently has about $500 million in BTC. The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. As market circumstances worsened, the whale’s portfolio lost a significant portion of its value. At the time of the transaction, only $250 million remained in what had previously been a $1 billion wallet. The whale acquired the original 15,000 BTC in 2019 and has only now moved it to another wallet. Unfortunately.

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2023-01-08 10:24:59 EIP-1559: Proposal To Help Ethereum Improve Compute And Handle Gas Fees

Ethereum has grown in popularity. By creating technology that will give all traders better and more effective transaction experiences, its creators are attempting to address this problem. The EIP-1559 update is their most recent remedy. Standards for the Ethereum network, including core protocol specifications, client APIs, and contract standards, are included in the Ethereum Improvement Proposal (EIP). These ideas are meant to make Ethereum better. Anyone can create an EIP, but the core API developers must approve it before it can be used.Vitalik Buterin originally proposed EIP-1559 in 2018 to increase the effectiveness of transactions on the Ethereum network.

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